RBB Bancorp (NASDAQ:RBB) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of RBB Bancorp (NASDAQ:RBB) from a hold rating to a sell rating in a report issued on Saturday, Zacks.com reports.

According to Zacks, “RBB Bancorp is a bank holding company with the principal business to serve as the holding company for its wholly-owned banking subsidiaries, including Royal Business Bank and RBB Asset Management Company. The Bank offers personal and commercial banking, real estate loans, and investment services, as well as deposits, debit and credit cards, cash management and other related services. It operates primarily in Los Angeles, San Gabriel, Torrance, Rowland Heights, Westlake Village, Oxnard, Monterey Park, Diamond Bar, Cerritos, West LA, Arcadia, Silverlake, California and Las Vegas, Nevada. RBB Bancorp is headquartered in Los Angeles, California. “

A number of other analysts have also recently issued reports on the stock. BidaskClub upgraded shares of RBB Bancorp from a hold rating to a buy rating in a research note on Wednesday, September 18th. Keefe, Bruyette & Woods set a $21.00 target price on shares of RBB Bancorp and gave the company a hold rating in a research note on Wednesday, September 18th. Finally, TheStreet upgraded shares of RBB Bancorp from a d+ rating to a c- rating in a research note on Monday, June 24th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. RBB Bancorp currently has an average rating of Hold and a consensus target price of $25.13.



RBB stock opened at $19.78 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.03 and a current ratio of 1.14. The stock has a market cap of $394.36 million, a P/E ratio of 9.29 and a beta of 1.13. The firm has a 50 day simple moving average of $18.83 and a 200 day simple moving average of $19.27. RBB Bancorp has a 52 week low of $17.03 and a 52 week high of $26.64.

RBB Bancorp (NASDAQ:RBB) last posted its quarterly earnings results on Monday, July 22nd. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.07). The company had revenue of $29.81 million for the quarter, compared to analyst estimates of $32.60 million. RBB Bancorp had a return on equity of 10.64% and a net margin of 25.83%. Sell-side analysts predict that RBB Bancorp will post 1.92 EPS for the current year.

In other news, Director Peter M. Chang acquired 115,000 shares of RBB Bancorp stock in a transaction dated Wednesday, September 11th. The stock was acquired at an average cost of $20.00 per share, for a total transaction of $2,300,000.00. 23.92% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of RBB. Citadel Advisors LLC increased its position in RBB Bancorp by 6.8% during the second quarter. Citadel Advisors LLC now owns 30,038 shares of the company’s stock worth $581,000 after acquiring an additional 1,905 shares during the period. Vanguard Group Inc. increased its position in RBB Bancorp by 4.3% during the second quarter. Vanguard Group Inc. now owns 661,013 shares of the company’s stock worth $12,784,000 after acquiring an additional 27,042 shares during the period. Tower Research Capital LLC TRC increased its position in RBB Bancorp by 435.9% during the second quarter. Tower Research Capital LLC TRC now owns 1,554 shares of the company’s stock worth $30,000 after acquiring an additional 1,264 shares during the period. BlackRock Inc. increased its position in RBB Bancorp by 20.8% during the second quarter. BlackRock Inc. now owns 886,491 shares of the company’s stock worth $17,144,000 after acquiring an additional 152,855 shares during the period. Finally, Northern Trust Corp increased its position in RBB Bancorp by 4.7% during the second quarter. Northern Trust Corp now owns 161,925 shares of the company’s stock worth $3,132,000 after acquiring an additional 7,271 shares during the period. Institutional investors and hedge funds own 30.99% of the company’s stock.

About RBB Bancorp

RBB Bancorp operates as the bank holding company for Royal Business Bank that provides various banking products and services to the Chinese-American communities. Its deposit products include checking, savings, and money market accounts, as well as certificates of deposit. The company offers commercial and industrial lines of credit, term loans, mortgage warehouse lines, and international trade discounts; commercial real estate loans; residential construction, commercial construction, and land acquisition and development construction loans; small business administration loans; and single-family residential mortgage loans.

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